File for personal bankruptcy
Consumer bankruptcy proceedings in the local court (bankruptcy court) to discharge debts following a failed attempt at an out-of-court settlement.
How to proceed
- 1
Attempt to reach an out-of-court settlement
With the help of a debt counseling agency, a debt settlement plan is sent to all creditors.
- 2
Petition to the Bankruptcy Court
Accompanied by a certificate confirming the failure to reach an agreement, a statement of financial position, and a debt settlement plan.
- 3
Discharge of remaining debt following a probationary period
Usually after 3 years, provided all obligations have been met.
Responsible authority
The authority of your main place of residence is responsible.Find authority →
Fees
Varies by case
Processing time
approx. 37 months
Official: max. approx. 37 months
Online application
In person or by post
Common mistakes
- • No record of an attempt to reach an out-of-court settlement with all creditors
- • Certification from an appropriate authority regarding the failure is missing
Common reasons for rejection
- • No evidence of an attempt at an out-of-court settlement
- • Incomplete Statement of Assets and Liabilities
The essentials before applying
Who is eligible?
Over-indebted individuals who are not self-employed (or former self-employed individuals with modest means).
Income limit
The limit varies by household and region – see the table at the responsible authority or in the application assistant.
Processing time
Nationwide: approx. approx. 37 months
Success rate
approx. 90.0 % (estimate)
Most common mistakes
- •No record of an attempt to reach an out-of-court settlement with all creditors
- •Certification from an appropriate authority regarding the failure is missing
Common reasons for rejection
- •No evidence of an attempt at an out-of-court settlement
- •Incomplete Statement of Assets and Liabilities
Alternatives
- Check related services in the application assistant
- Use social counselling before applying
If rejected
Read the decision carefully: often submitting missing documents or reapplying helps more than an objection.